41 connected strategy for asian wealth management ^Top data on the client and the broader investor population and increase personalization over time. This loop transforms stand-alone experiences into connected customer re- lationships and strengthens the “recognize”, “request” and “respond” phases of a client journey43 (Figure 20). Figure 20: Phases in the client journey and the ‘Repeat’ loop A connected journey and its information flows is illustrated in Figure 21. At each step of the journey, direct connectivity with the client provides the firm with a rich data set that is used for enriching the overall client profile and for real time personalization. This makes current and future interactions more valuable for clients, increasing the likelihood they will provide more relevant, accurate and actionable data, kicking off a virtuous information cycle. The ongoing clickstream of data and its usage is the foundation for increasing the client’s willingness-to-pay via personalized advice while the use of digital, connected platforms ensures scale wherein providing such an experience to more clients is not reliant on adding additional advisor capacity. This virtuous information cycle allows for client specific learning and population- or co- hort-level learning (e.g., “People like you invest in”)44. It also provides insight into what new products and services the wealth manager could offer to better meet the needs of clients. In addition, the type of connected client experiences a wealth manager wants to build dictates the required information flows between a wealth manager and client. As we move through the four connected experience archetypes, the intensity of information flows increases. There are four dimensions for practitioners to consider: 43 We refer readers to Nir Eyal’s book ‘Hooked’ for a framework to build such engagement loops 44 Spotify’s personalization approach is instructive in this context. We refer readers to the podcast “Spotify: A product story.” Recognize Request Respond Repeat Source: Connected Strategy, HBR Press, 2019